Absolute Software Announces Automatic Share Purchase Plan
Enables Normal Course Issuer Bid Purchases to Continue During Company’s Quarterly Trading Blackout Period
Vancouver, Canada: December 22, 2009– Absolute® Software Corporation(“Absolute” or the “Company”) (TSX: ABT), the leading provider of firmware-based, patented, computer theft recovery, data protection and IT asset management solutions today announced approval from the TSX for an Automatic Share Purchase Plan (“Plan”) commencing December 24, 2009, which will enable the company to continue purchasing shares under its Normal Course Issuer Bid (“Bid”) during its quarterly trading blackout period.
Absolute believes that purchases under the Bid are an appropriate use of corporate funds, and accordingly, desires to continue making purchases under the Bid during its quarterly trading blackout period. In accordance with company policy, the quarterly blackout period goes into effect at the close of business on December 22, 2009 and is expected to terminate on February 3, 2010 (after dissemination of the reporting materials). As a result, purchases under the Plan are approved to commence on December 24, 2009, with trading through a designated broker that is a participating organization of the TSX. The Plan expires at the close of business on February 3, 2010, and, subject to pre-determined pricing and volume restrictions imposed by the company, to the rules and polices of the TSX and to the specific terms of the Bid, all trades under the Plan are entirely at the broker’s discretion.
The company’s Bid was approved by the TSX to commence on November 6, 2009 and enables Absolute to purchase and cancel up to 3,337,617 of its shares. Up to December 22, 2009, the company had purchased 20,475 shares under the current Bid.
This press release contains forward-looking statements and financial outlook that involve risks and uncertainties. These forward-looking statements and financial outlook relate to, among other things, the expected performance, functionality and availability of the Company’s services and products, and other expectations, intentions and plans contained in this press release that are not historical facts. When used in this press release, the words “plan,” “expect,” “believe” and similar expressions generally identify forward-looking statements. These statements reflect the Company’s current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and general market conditions. In light of the many risks and uncertainties, readers of the press release should understand that Absolute cannot assure them that the forward-looking statements and financial outlook contained in this press release will be realized. Furthermore, the forward-looking statements and financial outlook contained in this press release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements and financial outlook, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
Absolute empowers more than 12,000 customers worldwide to protect devices, data, applications, and users against theft or attack — both on and off the corporate network. With the industry’s only tamper-proof endpoint visibility and control solution, Absolute allows IT organizations to enforce asset management, security hygiene, and data compliance for today’s remote digital workforces. Absolute’s patented Persistence®technology is embedded in the firmware of Dell, HP, Lenovo, and 22 other leading manufacturers’ devices for vendor-agnostic coverage, tamper-proof resilience, and ease of deployment. See how it works atwww.absolute.comand follow us at@absolutecorp.